US Defends Student Loan Repayment Moratorium After SoFi Suit

The US Department of Education is standing by its pause on student-loan repayments after an online lender sued to strike down the latest extension.

SoFi Technologies Inc., which refinances student loans, is asking a federal court to order repayment by borrowers who aren’t eligible for student-debt cancellation under the terms of the Education Department’s debt-forgiveness plan.

The Department of Education will defend the repayment pause, as well as the forgiveness plan overall, according to a statement from a spokesperson. “This lawsuit is an attempt by a multi-billion dollar company to make money while they force 45 million borrowers back into repayment ...